Late SAFE Comprehensive: Compliance in Action 2021
COURSE HOURS: Mon- Thru- 3:30pm-5:30pm EST/ 2pm-5:30p CST/ 2pm-3:30p PST
**This course DOES NOT contain any state-specific content***
This 8-hr SAFE Comprehensive: Compliance in Action 2021 course satisfies the Late continuing education requirements for mortgage loan originators set forth by the SAFE Act, including 3 hours of federal law, 2 hours of ethics, 2 hours of nontraditional mortgage lending, and 1 hour of undefined education (elective).
Course Learning Objectives
After completing this course, you will be able to:
- Identify ECOA discriminatory actions that are prohibited when gathering information for a loan application and completing a credit analysis.
- Describe how to adhere to ECOA and FCRA application notification requirements with a specific focus on the content and time requirements for delivering adverse action and incomplete application notices.
- Explain how to comply with HMDA when gathering information to complete a loan application and fulfilling reporting requirements through a loan application register.
- Identify disclosure requirements per TILA and Regulation Z specific to the content and time requirements for adjustable-rate mortgage disclosures and the written list of settlement service providers.
- Identify TILA and Regulation Z mortgage loan compensation rules and record retention requirements to provide evidence of compliance.
- Identify TILA and Regulation Z requirements for disclosing licensee information on loan documents, including the licensee’s name and NMLSR unique identifier.
- Explain how to comply with the TILA good faith disclosure rule, including what costs have a zero, limited, and unlimited tolerance for change and the causes for a tolerance category to change for a given cost.
- Identify changed circumstances that allow for a revised Loan Estimate and when revised costs can be used in good faith analysis.
- Identify factors that determine where costs are to be placed on the Loan Estimate and Closing Disclosure with a specific focus on settlement service costs.
- Describe how to compare costs identified on the Loan Estimate to those on the Closing Disclosure to ensure allowable tolerances for cost changes have not been violated.
- Recall the prohibitions set forth by Regulation X specific to accepting kickbacks, split charges, and unearned fees.
- Recognize allowable and prohibited origination fees for VA-guaranteed mortgage loan programs.
- Recall consumer consent requirements for receiving and delivering loan documents electronically.
- ……see Course Syllabus for the rest!
Check out our Training & Development page for upcoming webinars and available online courses
We also offer Pre-Licensing courses through a partnership with Learn Mortgage.